Worldcoin Announces Token Unlock and Price Skyrockets 35%

Bittime - Worldcoin announces extension of WLD token lockup from three to five years. WLD token price jumped 37.20% to $2.90 with trading volume up 176%. 

Open interest also increased 74%, indicating bullish momentum. Support levels are $2.60 and $2, resistance is $3 and $3.30. Potential upside to $4 if it breaks the fifty-day EMA.

Worldcoin Announces Token Unlock

Worldcoin contributor Tools For Humanity (TFH) has revealed a new lockup duration for the WLD token. This will increase the distribution duration from three to five years. TFH team members and early investors will receive the same tokens every day for a longer period of time.

With a sharp intraday surge of 37.20%, WLD price is trading at $2.90. This shows strong buying momentum on the chart. While total supply reached 10 billion, trading volume increased by more than 176%.

Increase in WLD Token Open Interest

To hedge against potential upside, traders opened multiple long positions in the overnight session, resulting in an increase in open interest of more than 74% to $317.29 million. Immediate support levels for the WLD token are at $2.60 and $2, while major hurdles rise to around $3 and $3.30.

WLD Token Price Experiences Increase

At press time, WLD token price rose above the twenty-day EMA mark and attempted to cross the fifty-day EMA. Once broken out, there will be a significant trend reversal, and the price of WLD will soon reach the four dollar mark.

Conclusion

The price of the WLD token has skyrocketed as a result of Worldcoin's recent announcement of extending the lockup time of the WLD token from three to five years. 

There appears to be a strong buying impulse in the market, as trading volume increased by over 176% and the price of WLD rose 37.20% to $2.90. 

Trader interest increased due to a 74% increase in open interest to $317.29 million. 

The main resistance levels are $3 and $3.30, while the closest price support is $2.60 and $2. There may be further upside towards four dollars if the WLD token price breaks the fifty-day EMA.

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